Garth's Micro Brewery, whose shares are currently trading at $40 per share, is considering acquiring Wayne's Beer Bottling Co. You have compiled a group of comparable transactions within the beer bottling space and have calculated that since 2004, acquisitions similar (or comparable!) to the one Garth's is currently considering have had transaction values (offer value of target plus any target debt, net of cash) that are, on average, 8.0x target's EBITDA.

Wayne's shares currently trade at $34 per shareWayne's has 50 million diluted shares outstandingWayne's LTM EBITDA was $250 millionWayne's Net Debt was $200 million